Tron (TRX) Price Surges Ahead of Mainnet Upgrade

Price of Tron (TRX) on Wednesday entered a positive territory as investors turned slightly bullish on the prospect of its blockchain’s mainnet upgrade.

The TRX/USD exchange rate surged around 1.28 percent in the past 24 hours, according to CoinStats cryptocurrency portfolio tracker. As of 2045 GMT, the pair was trading at $0.0333, with its market valuation at approx $2.02 billion. At the same time, the TRX-enabled pairs across the cryptocurrency exchanges in the past 24 hours posted volume worth over $438 million.

Tron also appeared stronger against bitcoin, the leading cryptocurrency whose dominance surged above 57 percent this week. The TRX/BTC exchange rate rose by a little above 1 percent to 364 satoshis as of 2045 GMT.

Fundamental Push?

Tron’s rise closely followed a positive a TRX coin news – that of a mainnet upgrade.

In retrospective, the Tron Foundation announced on Tuesday that it would improve the TRX mainnet by introducing a more lightweight built-in event server with added protocol data check. The upgrade, which would be made live soon, would also experience increased security and stability.

“The TRON public chain enjoys a transaction per second (TPS) of tens of thousands, and maximizes user engagement to its ecosystem with free access and strong incentives. Developers can use the TRON Protocol and the TVM to develop applications both for themselves and the community.”

wrote the Tron Foundation.

Incidentally, the Tron price rise also appeared alongside a similar upside action across the cryptocurrency market. In the last 24 hours, bitcoin surged by a modest 0.26 percent, while the second largest cryptocurrency ether rose by 1.51 percent.

XRP, Bitcoin Cash, and EOS also appreciated against the US dollar in a range of 0.5-1.5 percent, according to CoinStats crypto portfolio management app.